----- Original Message -----
Sent: Wednesday, March 31, 2004 2:10
PM
Subject: Re: Re: [sharechat] Australian
Stock Suggestions (CRD, CRS)
Hi Chris
CRD: I can't seem to find anything about the 12c offer,
any guess as to
where I should look? I have been watching them for a
few months now. Mid
month they were about 12c and then each 2nd day
seem to jump 0.5c, today a
high of 18c.
There are people making money out of CRD right
now (bought around 12c) but I'm not one of them (not too clever, huh).
Same thing happened recently with AFT - lots of unsubstantiated hype re China
(ramping up) and SP growth, but was followed by a severe dive.
Again, could have made money on it but didn't because I knew it was unfounded
(again, not too clever, huh).
Question 1: They are looking at Helam dimond mine which recently
produced
96,000 carets per year (CRD think could be lifted to
144,000). Their
current mines produce 28,000 (Messina) and 21,600
(Star). If they decide
not to purchase Helam how do you see (guess)
that effecting the share price?
Question 2: Mid 2002 they fell from around $6 to $1 ... looks like
cashflow
issues ... not sure, any ideas on the slide in share price
... do you think
they are past that one?
No idea. Hellam is a good proposition/acquisition
but I'm not in because due diligence has not been completed nor the
acquisition confirmed. I suspect the latest issue will sell quite well based
on the recent SP performance if it continues till the offer closes. The
only financials to hand is the recently released half-year report
(can be found on same URL as above, dated 31.3.04) - This report shows a loss
for the period. So, if Hellam proceeds, they'll need cash from the issue. If
Hellam doesn't proceed, they may also need cash from the issue. On the other
hand, lots of convertible notes have been converted in the past couple of
months - I'm still undecided - not much help - sorry.
CRS:
They were in the MiningNews "Stocks to Watch in 2004". They put out
a
media announcement 30 March 04 re significant results from Norseman
and
Davyhurst operations. Late last year they were around 70c but have
fallen to
55c or so. Note sure why that is. Their 1/2 year to Dec
2003 had production
of 123,632 @A$361/oz.
This is a good mining company and will recover.
They even paid a 1.5c dividend last October. Absolutely every share under $1
and many above have suffered recently - some through design. It's just the
nature of the beast at the moment. A good stock is targeted to get the price
down and create a window for profit. Have noticed quite a
few stocks starting to hit support levels. Basically, the way I see it,
as soon as the majority hit support levels, there's nowhere else to go but up,
up, up.Pete
----
>I'd avoid CRD until after their
recent offer closes & settles (12c). Sorry,
details not to hand at
present.
>INL - Still a bit unstable at present, but don't take your
eyes off.
>CRS - been in mining and profitable for quite some time -
good stable
company - SP has been trading in good
range.
>Regards,
>Cris
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